Title: Accounting for SMEs Its Awareness and Implementation in Metro Manila

Tentative Survey Questionnaire

I. PROFILE
Form of business organization
o Sole
o Partnership
o Corporation

Capitalization, in terms of asset

o 3 million or less
o 3 million to 15 million
o 15 million to 100 million
o 100 million to 350 million

Capitalization, in terms of liability

o 3 million or less
o 3 million to 15 million
o 15 million to 100 million
o 100 million to 250 million

No. of employees
o 1 - 9 employees
o 10 - 99 employees
o 100 - 199 employees
o 200 or more employees
o
No. of years of operations
o 1 - 5 years
o 6 - 10 years
o 10 - 15 years
o 16 years or more
II. PFRS USED
What type of SME is your organization?
o Parent Company
o Subsidiary
o Branch
o Part of Joint Venture or Associate
o Normal SME

Does your company prepares accounting records?

o Yes
o No

Has your company been qualified as an exemption from PFRS for SMEs?
o Yes
o No

If yes, what accounting standard does your company opt to apply?

o Full PFRS
o PFRS for SMEs
o Another acceptable basis of accounting

III. AWARENESS
As a small or medium enterprise applying PFRS for SMEs, are you familiar with the
requirements of the said standard in terms of the following: Check all that apply.
o Presentation and Disclosure of the Financial Statements
o Business Combinations
o Investment in Associates and Joint Ventures
o Expense Recognition
o Financial Instruments Derivatives and Hedging
o Non-Financial Assets including Goodwill
o Employee Benefits
o Income Taxes

IV. IMPLEMENTATION
PRESENTATION AND DISCLOSURE OF FINANCIAL STATEMENTS
What are the elements of financial statements you normally prepare? Check all that
apply.
o Statement of Financial Position
o Statement of Comprehensive Income
 o Statement of Cash Flows
o Statement of Changes in Equity
o Notes to the Financial Statement
o Statement of Income and Retained Earnings (combined statement of income and
change in equity)

BUSINESS COMBINATIONS
Have you ever been engaged in a business combination? (If yes, proceed to number 3)
o Yes
o No
How do you account contingent considerations in business combination?
o Included only in acquisition cost when probable and measurable
o Always part of acquisition cost

INVESTMENT IN ASSOCIATES AND JOINT VENTURES

Does your company have investments in associates or jointly controlled entities?
o Yes
o No
If yes, what accounting model do you use to account for these investments?
o Cost model (cost less any accumulated impairment losses)
o Equity method
o Fair value through profit or loss model

EXPENSE RECOGNITION
How does your company account for research and development costs and borrowing
costs?
o All are expensed
o Research cost is expensed, the rest are capitalized

FINANCIAL INSTRUMENTS DERIVATIVES AND HEDGING

NON-FINANCIAL ASSETS AND GOODWILL

EMPLOYEE BENEFITS DEFINED BENEFIT PLANS
Does your company provide benefits for your employee?
o Yes
o No
How do you account for employee benefit?
o Recognize immediately as expense
o Amortized over expected remaining working lives of employee

INCOME TAX
How does your company account for income tax?
o As an expense
o As a deferred tax asset